Statutory Instruments

2010 No. 1187

Income Tax

The Financial Assistance Scheme (Tax) Regulations 2010

Made

6th April 2010

Laid before the House of Commons

7th April 2010

Coming into force

1st May 2010

The Treasury, in exercise of the powers conferred by section 73 of the Finance Act 2009(1), make the following Regulations:

PART 1 Preliminary

Citation, commencement and interpretation_I1

1.—(1) These Regulations may be cited as the Financial Assistance Scheme (Tax) Regulations 2010 and shall come into force on 1st May 2010.

(2) In these Regulations, unless otherwise stated, any reference to a numbered regulation is a reference to that regulation of the FAS Regulations.

(3) In these Regulations—

“assistance” means—

interim assistance,
non-lump sum assistance,
a lump sum payment under regulation 17D (lump sum payments), and
a payment under regulation 18A (death benefit guarantees) in cases where that payment is in the form of a lump sum;

“the FA 2004” means the Finance Act 2004 ( 2 );

“the FAS” means the financial assistance scheme( 3 );

“the FAS Regulations” means the Financial Assistance Scheme Regulations 2005 ( 4 );

“the FAS scheme manager” means the person appointed by the Secretary of State by regulations under section 286 of the Pensions Act 2004 ( 5 ) to manage the FAS;

“interim assistance” means—

an interim ill health payment from the FAS(6), and
an initial payment from the FAS(7);

“non-lump sum assistance” means—

an annual payment from the FAS under regulation 17 (annual payments),
an ill health payment from the FAS(8), and
an annual payment from the FAS under regulation 17C (annual payments for certain applications in cases of severe ill health);

[^F1 “ permitted maximum ”—

(a)

in relation to a lump sum paid under regulation 17D, has the same meaning as in section 637GA(2) of ITEPA 2003 (Financial Assistance Scheme: regulation 17D lump sums) as that section has effect in accordance with regulation 4(2) of these Regulations;

(b)

in relation to a payment made under regulation 18A in the form of a lump sum, has the same meaning as in section 637GB(2) of ITEPA 2003 (Financial Assistance Scheme: regulation 18A lump sums) as that section has effect in accordance with regulation 4(2) of these Regulations;^F1]

^F2 “qualifying member” has the meaning given by regulation 15(1); ...

“qualifying pension scheme” has the meaning given in regulation 9 [^F3 ;

“ relevant benefit crystallisation event ”—

(a)

in relation to an individual’s lump sum allowance, has the same meaning as in section 637Q of ITEPA 2003 (availability of individual’s lump sum allowance);

(b)

in relation to an individual’s lump sum and death benefit allowance, has the same meaning as in section 637S of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance); and^F3]

[^F3 “ relevant reference number ”, in relation to an individual, means a reference number given by or on behalf of the Commissioners for His Majesty’s Revenue and Customs in respect of the individual under—

(a)

the Registered Pension Schemes (Enhanced Allowances) Regulations 2006 (where the member relies on any provision of Schedule 36 to FA 2004);

(b)

the Registered Pension Schemes (Enhanced Allowances Transitional Protection) Regulations 2011 (where the member relies on fixed protection under Schedule 18 to FA 2011);

(c)

the Registered Pension Schemes and Relieved Non-UK Pension Schemes (Enhanced Allowances Transitional Protection) (Notification) Regulations 2013 (where the member relies on fixed protection 2014 under Schedule 22 to FA 2013);

(d)

the Registered Pension Schemes and Relieved Non-UK Pension Schemes (Enhanced Allowances Transitional Protection) (Individual Protection 2014 Notification) Regulations 2014 (where the member relies on individual protection 2014 under Schedule 6 to FA 2014);

(e)

paragraph 14 of Schedule 4 to FA 2016 (where the member relies on fixed or individual protection 2016 under that Schedule).^F3]

PART 2 Tax reliefs, etc

Transfer of registered pension scheme assets, etc, to the Secretary of State_I2

2. A transfer of the property, rights and liabilities of a registered pension scheme(9) to the Secretary of State is to be treated as if it were a payment authorised by section 164(1) of the FA 2004(10) (authorised member payments).

Payments to the Secretary of State_I3

3.—(1) This regulation applies where as a result of the transfer of the property, rights and liabilities of a registered pension scheme to the Secretary of State an employer is required to pay a sum to the Secretary of State.

(2) Where section 199 of the FA 2004(11) (deemed contributions) would have applied if the payment had been made to the trustees or managers of the scheme, that section applies in relation to the payment in the same way as it applies in relation to a sum paid to the trustees or managers of a registered pension scheme.

(3) Where the payment does not fall within paragraph (2), section 200 of the FA 2004(12) (no other relief for employers in connection with contributions) applies in relation to it in the same way that section applies in relation to a sum other than a contribution paid in connection with the cost of providing benefits under a registered pension scheme.

[^F4Lump sum payments by the Financial Assistance Scheme

4.—(1) This regulation modifies Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes) in relation to certain lump sums paid by the FAS.

(2) That Chapter has effect as if, after section 637G (trivial commutation lump sums and winding-up lump sums) there were inserted—

“637GA. Financial Assistance Scheme: regulation 17D lump sums

(1) Subject to subsection (2), no liability to income tax arises on a lump sum paid to an individual under regulation 17D of the Financial Assistance Scheme Regulations 2005 (S.I. 2005/1986) (“a regulation 17D lump sum”).

(2) If the amount of the regulation 17D lump sum exceeds the permitted maximum, section 579A (pensions) applies to the excess as it applies to any pension under a registered pension scheme.

(3) In subsection (2) “the permitted maximum”, in relation to a regulation 17D lump sum, means the lower of—

(a)so much of the individual’s lump sum allowance as is available on the individual becoming entitled to the lump sum (see section 637Q), and

(b)so much of the individual’s lump sum and death benefit allowance as is available on the individual becoming entitled to the lump sum (see section 637S).

“637GB. Financial Assistance Scheme: regulation 18A lump sums

(1) Subject to subsection (2), no liability to income tax arises on a payment made in respect of an individual under regulation 18A of the Financial Assistance Scheme Regulations 2005 in the form of a lump sum (“a regulation 18A lump sum”).

(2) If the amount of the regulation 18A lump sum exceeds the permitted maximum, section 579A (pensions) applies to the excess as it applies to any pension under a registered pension scheme.

(3) In subsection (2) “the permitted maximum”, in relation to a regulation 18A lump sum, means so much of the individual’s lump sum and death benefit allowance as is available on the individual becoming entitled to the lump sum (see section 637S).”.

(3) Section 637Q of ITEPA 2003 (availability of individual’s lump sum allowance) has effect as if, in the definition of “relevant lump sum” in subsection (2)(b) of that section, there were included a reference to a lump sum paid to the individual under regulation 17D.

(4) Section 637S of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance) has effect as if, in the definition of “relevant lump sum” in subsection (2)(b) of that section, there were included—

(a)a reference to a lump sum paid to the individual under regulation 17D; and

(b)a reference to a payment made in respect of the individual under regulation 18A in the form of a lump sum.^F4]

PART 3 [^F5Lump sum allowance and lump sum and death benefit allowance^F5]

^F6Application of relevant ... allowance provisions_I4

^F75.—(1) The relevant ... allowance provisions apply in relation to assistance from the FAS as they apply in relation to benefits that are provided under a registered pension scheme.

^F8(2) For the purposes of the relevant ... allowance provisions, unless the context requires otherwise—

(a)a qualifying member is to be treated as if that qualifying member were a member of a registered pension scheme; and

(b)the FAS is to be treated as if it were a registered pension scheme and the FAS scheme manager is to be treated as its scheme administrator.

^F10(3) Subject to regulations [^F97^F9] to 11 of these Regulations, the relevant ... allowance provisions are—

[^F11 (za)Chapter 15A of Part 9 of ITEPA 2003 (pension income: lump sums under registered pension schemes);^F11]

(a)^F13[^F12 section^F12] 263 of the FA 2004 (... penalty in relation to relevant benefit accrual);

(b)Part 2 of Schedule 36 to the FA 2004[^F14 (transitional provision and saving: pre-commencement rights: enhancement of allowances etc); and^F14]

^F15(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d)^F16enhanced ... allowance regulations.

^F17^,^F17 (4) “Enhanced ... allowance regulations” has the meaning given by section 256(2) of the FA 2004 (enhanced ... allowance regulations).

Amount of charge

^F186. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[^F19Entitlement to assistance from the FAS^F19] _I5

^F207.—(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) For the purposes of these Regulations, an individual becomes entitled to—

(a)assistance from the FAS when that individual first acquires an actual (rather than a prospective) right to receive that assistance and the amount of that assistance has been determined by the FAS scheme manager; and

(b)a lump sum under regulation 17D immediately before the individual becomes entitled to the non-lump sum assistance to which the lump sum relates.

^F21(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F21(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F21(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F21(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F21(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Persons liable to charge

^F228. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Availability of individual’s lifetime allowance

^F239. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transitional provisions: Part 2 of Schedule 36 to the FA 2004_I6

10. For the purposes of paragraph 12(2)(b) of Schedule 36 to the FA 2004 (enhanced protection), a transfer of the property, rights and liabilities of a registered pension scheme to the Secretary of State is to be treated as a permitted transfer.

Information and penalties_I7

^F2411.—(1) ... The Registered Pension Schemes (Provision of Information) Regulations 2006(13) do not apply in relation to the FAS.

^F25^,^F25(2) Sections 261 and 262 of the FA 2004 (enhanced ... allowance regulations: documents and information – penalties) apply to the reporting obligation in regulation 13 of these Regulations as if it was imposed by enhanced ... allowance regulations.

(3) Section 98 of the Taxes Management Act 1970(14) (special returns, etc: penalties) applies to the reporting obligations in regulations [^F2613A^F26] to 18 of these Regulations as if they were listed in the second column of the Table in that section.

[^F27Relevant benefit crystallisation events: amount of qualifying member’s allowances expended

12.—(1) The amount of a qualifying member’s lump sum allowance or lump sum and death benefit allowance expended on the happening of a relevant benefit crystallisation event for the purposes of these Regulations is the non-taxable amount in relation to the lump sum to which the member becomes entitled, or (as the case may be) the lump sum death benefit which a person is paid in respect of the member.

(2) In this regulation “non-taxable amount”—

(a)in relation to a qualifying member’s lump sum allowance, has the meaning given by section 637Q(6) of ITEPA 2003;

(b)in relation to a qualifying member’s lump sum death benefit allowance, has the meaning given by section 637S(6) of ITEPA 2003.^F27]

Information provided by qualifying members to the FAS scheme manager about enhanced [^F28allowances^F28] _I8

^F2913. If a qualifying member intends to rely on entitlement to an enhanced ... allowance, or to enhanced protection, the qualifying member must notify the FAS scheme manager of the reference number issued by the Commissioners for Her Majesty’s Revenue and Customs under the Registered Pension Schemes (Enhanced [^F30Allowances^F30] ) Regulations 2006(15) in respect of that entitlement.

[^F31Information provided by or in relation to qualifying members to the FAS scheme manager in relation to transitional tax-free amount certificates

13A.—(1) Paragraph (2) applies where the scheme administrator of a registered pension scheme issues a transitional tax-free amount certificate (see paragraph 127(1) of Schedule 9 to FA 2024) in relation to an individual who is a qualifying member at the time at which the certificate is issued.

(2) The relevant person must, before the end of the period of 90 days beginning with the day on which they receive the certificate, send a copy of the certificate to the FAS scheme manager.

(3) Paragraph (4) applies where the scheme administrator of a registered pension scheme issues a transitional tax-free amount certificate in relation to an individual who—

(a)is not a qualifying member at the time at which the certificate is issued; and

(b)becomes a qualifying member after that time.

(4) The relevant person must, before the end of the period of 90 days beginning with the day on which the individual becomes a qualifying member, send a copy of the certificate to the FAS scheme manager.

(5) Paragraph (6) applies where the scheme administrator of a registered pension scheme cancels a transitional tax-free amount certificate in relation to an individual who is a qualifying member.

(6) The relevant person must, before the end of the period of 90 days beginning with the day on which they receive the notice of cancellation, send a copy of the notice to the FAS scheme manager.

(7) In this regulation “ relevant person ”, in relation to a transitional tax-free amount certificate, means—

(a)the qualifying member to whom the certificate relates; or

(b)if the qualifying member is deceased, the member’s personal representatives.^F31]

Information provided by the FAS scheme manager to qualifying members about liability for a lifetime allowance charge

^F3214. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information provided by the FAS scheme manager to qualifying members about [^F33relevant^F33] benefit crystallisation events_I9

15.—(1) The FAS scheme manager must provide a statement containing the information in paragraph (2) to each qualifying member—

(a)who has become entitled to receive assistance, at least once in each tax year; or

(b)in respect of whom a [^F34relevant^F34] benefit crystallisation event has occurred, within three months of that event,

or, if the member has died, the FAS scheme manager must provide the statement to the member’s personal representatives.

(2) The information is the [^F35amount of the member’s lump sum allowance and lump sum and death benefit allowance^F35] expended in relation to the member by—

(a)[^F36 relevant^F36] benefit crystallisation events in respect of the FAS; and

(b)[^F37 relevant benefit crystallisation events^F37] prior to the transfer to the Secretary of State mentioned in regulation 2 of these Regulations except for a [^F37relevant benefit crystallisation event^F37] which relates to a liability or pension obligation which is not discharged under section 161 of the Pensions Act 2004 as modified by paragraph 3D of Schedule 1 to the FAS Regulations 2005.

(3) No obligation to provide a statement under paragraph (1)(b) arises if a statement is required to be provided under sub-paragraph (a) of that paragraph or under regulation 16(1)(a) of these Regulations.

(4) For the purposes of paragraph (1)(a), a qualifying member becomes entitled to receive assistance in the circumstances set out in regulation 7(2) of these Regulations.

Information provided by the FAS scheme manager to personal representatives_I10

16.—(1) The FAS scheme manager must notify to the personal representatives of a deceased qualifying member—

(a)the [^F38amount of the member’s lump sum and death benefit allowance^F38] expended by, and the amount and the date of payment of, a payment in the form of a lump sum under regulation 18A in relation to the member; and

(b)the total [^F39amount of the member’s lump sum allowance and lump sum and death benefit allowance^F39] expended in relation to the member, at the date of the notification, by—

(i)[^F40 relevant^F40] benefit crystallisation events in respect of the FAS; and

(ii)[^F41 relevant benefit crystallisation events^F41] prior to the transfer to the Secretary of State mentioned in regulation 2 of these Regulations except for a [^F41relevant benefit crystallisation event^F41] which relates to a liability or pension obligation which is not discharged under section 161 of the Pensions Act 2004 as modified by paragraph 3D of Schedule 1 to the FAS Regulations 2005,

but excluding from that [^F42amount^F42] any amount covered by paragraph (a).

(2) The information required by paragraph (1)(a) must be provided no later than the last day of the period of three months beginning with the day on which the assistance payment is made.

(3) The information required by paragraph (1)(b) must be provided no later than the last day of the period of two months beginning with the day on which a request for it is received from the member’s personal representatives.

Information provided by the FAS scheme manager to Her Majesty’s Revenue and Customs_I11

17.—(1)[^F43 If the amount of a lump sum paid to a qualifying member under regulation 17D or a payment made in respect of a qualifying member under regulation 18A in the form of a lump sum exceeds the permitted maximum in relation to the lump sum, within three months of the payment^F43] the FAS scheme manager must provide a report to Her Majesty’s Revenue and Customs setting out—

(a)the name, date of birth, address and national insurance number of the member;

(b)the date of the [^F44payment^F44] ;

(c)the amount [^F45of the lump sum^F45] ;

(d)^F46if the member has benefited from an enhanced ... allowance or enhanced protection, the reference number issued under the Registered Pension Schemes (Enhanced [^F47Allowances^F47] ) Regulations 2006 in respect of that entitlement; and

[^F48 (e)the amount by which the amount of the lump sum exceeds the permitted maximum in relation to the lump sum.^F48]

^F49(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information provided by personal representatives to Her Majesty’s Revenue and Customs_I12

18.—(1) Where—

(a)a payment in the form of a lump sum is made in respect of a deceased qualifying member under regulation 18A; and

[^F50 (b)the amount of the lump sum exceeds the permitted maximum in relation to the lump sum,^F50]

the personal representatives of the member shall provide to Her Majesty’s Revenue and Customs the information specified in paragraph (2).

(2) The information is—

(a)a statement that a payment in the form of a lump sum has been paid by the FAS under regulation 18A;

(b)the name of any registered pension scheme from which, and the name and address of the scheme administrator by whom, the benefits were paid;

[^F51 (ba)the name of each other pension scheme (if any) of which the deceased member was a member, and the name and address of the scheme administrator of each such scheme;^F51]

(c)the name [^F52, date of birth, date of death and national insurance number^F52] of the deceased member in respect of whom the benefits were paid;

[^F53 (ca)each relevant reference number (if any) in relation to the deceased member;

(cb)the name, address, date of birth and national insurance number of the individual to whom the lump sum is paid;^F53]

(d)the amount and date of the payment by the FAS;

(e)the amount and date of the payment of any benefits by a registered pension scheme; and

[^F54 (f)the amount by which the amount of the lump sum exceeds the permitted maximum in relation to the lump sum.^F54]

(3) The information required shall be provided on or before the later of—

(a)the end of the period of 13 months beginning with the death of the member; or

(b)the end of the period of 30 days beginning with the date on which the personal representatives (or any of them) became aware that paragraph (1) applied to the deceased member.

(4) Where a requirement to provide information under this regulation arises after the period specified in paragraph (3) has expired, the information shall be provided no later than the last day of the period of 30 months beginning with the death of the member.

(5) If the personal representatives discover after the latest date for providing information under paragraph (4) any information required to be provided under paragraph (1), that information shall be provided no later than the last day of the period of 3 months beginning with the discovery of that information.

(6) Where personal representatives are required to provide information under this regulation by virtue of a payment or payments in the form of a lump sum being made under regulation 18A in respect of the deceased member along with the payment of one or more relevant lump sum death benefits under Part 4 of the FA 2004 in respect of the deceased member, regulation 10 of the Registered Pension Schemes (Provision of Information) Regulations 2006 does not apply in relation to the payment or payments under Part 4 of the FA 2004.

PART 4 Miscellaneous

Transitional provisions: lump sums_I13

19. For the purposes of—

(a)paragraph 2 of Schedule 29 to the FA 2004 as modified by paragraph 28(3) of Schedule 36 to that Act; and

(b)regulation 25D of the Taxation of Pension Schemes (Transitional Provisions) Order 2006(16),

the reference to a pension commencement lump sum in the definition of “ [^F55 B ^F55] ” in paragraph 2(6) of Schedule 29 shall be taken to include a lump sum under regulation 17D.

[^F56Transitional tax-free amount certificates

20. Paragraph 127 of Schedule 9 to FA 2024 (transitional tax-free amount certificates) applies in relation to a qualifying member as if—

(a)a reference to a registered pension scheme included a reference to the FAS; and

(b)a reference to the scheme administrator of a registered pension scheme included a reference to the FAS scheme manager.^F56]

[^F56Provision of information by FAS scheme manager to qualifying members

21. In paragraph 128 of Schedule 9 to FA 2024 (provision of information by scheme administrators to members)—

(a)a reference to the Provision of Information Regulations includes a reference to these Regulations;

(b)a reference to a registered pension scheme includes a reference to the FAS; and

(c)a reference to the scheme administrator of a registered pension scheme includes a reference to the FAS scheme manager.^F56]

Dave Watts

Tony Cunningham

Two of the Lords Commissioners of Her Majesty’s Treasury

6th April 2010

(1)

2009 c.10.

(2)

2004 c.12.

(3)

“The financial assistance scheme” is defined in section 73(2) of the Finance Act 2009.

(4)

S.I. 2005/1986, amended by S.I. 2005/3256, 2006/3370, 2007/3581, 2008/1432, 2008/1903, 2008/3069, 2008/3241, 2009/792, 2009/1851 and 2010/1149.

(5)

2004 c.35. Section 286 was amended by section 18 of the Pensions Act 2007 (c.22) and section 124 of the Pensions Act 2008 (c.30).

(6)

“Interim ill health payment” is defined in regulation 2.

(7)

“Initial payment” is defined in regulation 2.

(8)

“Ill health payment” is defined in regulation 2.

(9)

“Registered pension scheme” is defined in section 73(8) of the Finance Act 2009.

(10)

Section 164(1) was numbered as such, and subsection (2) was inserted, by paragraph 1(2) of Schedule 29 to the Finance Act 2008 (c.9). The introductory words of subsection (1) were amended by paragraph 6(a) of Schedule 23 to the Finance Act 2006 (c.25). Subsection (2)(d) was repealed by section 75(2)(a) of the Finance Act 2009.

(11)

Section 199(2) was amended by paragraph 14(3) of Schedule 29 to the Finance Act 2008.

(12)

Paragraph (a) of section 200 was amended by paragraph 649 of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005 (c.5). Paragraphs (a) and (b) were amended by paragraph 577 of Schedule 1 to the Corporation Tax Act 2009 (c.4).

(13)

S.I. 2006/567, to which there are amendments not relevant to these Regulations.

(14)

1970 c.9. Section 98 was amended in particular by section 164 of the Finance Act 1989 (c.26).

(15)

S.I. 2006/131; relevant amending instruments are S.I. 2006/3261 and 2009/56.

(16)

S.I. 2006/572, amended by S.I. 2006/2004; there are other amending instruments but none is relevant.

in force	Provision is in force
in force*	In force only for specified purposes (for detail about the purposes see/hover footnote)
not in force	Not in force in England (may be in force in other geographies, see footnotes)
italics	Defined term
_dfn	Defined term (alternative style)
gry bckgrd	the in-force status of the provision is complex, check the footnotes

footnote	commentary	insert/omit
F1	Words in reg. 1(3) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(2)(a)	inserted
F2	Word in reg. 1(3) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(2)(b)	omitted
F3	Words in reg. 1(3) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(2)(c)	inserted
F4	Reg. 4 substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(3)	substituted
F5	Pt. 3 heading substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(4)	substituted
F6	Word in reg. 5 heading omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(6)	omitted
F7	Word in reg. 5(1) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(7)	omitted
F8	Word in reg. 5(2) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(8)	omitted
F9	Word in reg. 5(3) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(a)(i)	substituted
F10	Word in reg. 5(3) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(a)(ii)	omitted
F11	Reg. 5(3)(za) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(b)	inserted
F12	Word in reg. 5(3)(a) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(c)(i)	substituted
F13	Words in reg. 5(3)(a) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(c)(ii)	omitted
F14	Words in reg. 5(3)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(d)	substituted
F15	Reg. 5(3)(c) and word omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(e)	omitted
F16	Word in reg. 5(3)(d) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(f)	omitted
F17	Word in reg. 5(4) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(9)(g)	omitted
F18	Reg. 6 omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(10)	omitted
F19	Reg. 7 heading substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(11)(a)	substituted
F20	Reg. 7(1) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(11)(b)	omitted
F21	Reg. 7(3)-(7) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(11)(c)	omitted
F22	Reg. 8 omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(12)	omitted
F23	Reg. 9 omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(12)	omitted
F24	Words in reg. 11(1) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(13)(a)	omitted
F25	Word in reg. 11(2) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(13)(b)	omitted
F26	Word in reg. 11(3) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(13)(c)	substituted
F27	Reg. 12 substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(14)	substituted
F28	Word in reg. 13 heading substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(15)(a)	substituted
F29	Word in reg. 13 omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(15)(b)	omitted
F30	Word in reg. 13 substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(15)(b)	substituted
F31	Reg. 13A inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(16)	inserted
F32	Reg. 14 omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(17)	omitted
F33	Word in reg. 15 heading inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(18)(a)	inserted
F34	Word in reg. 15(1)(b) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(18)(b)	inserted
F35	Words in reg. 15(2) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(18)(c)(i)	substituted
F36	Word in reg. 15(2)(a) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(18)(c)(ii)	inserted
F37	Words in reg. 15(2)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(18)(c)(iii)	substituted
F38	Words in reg. 16(1)(a) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(19)(a)	substituted
F39	Words in reg. 16(1)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(19)(b)(i)	substituted
F40	Word in reg. 16(1)(b)(i) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(19)(b)(ii)	inserted
F41	Words in reg. 16(1)(b)(ii) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(19)(b)(iii)	substituted
F42	Word in reg. 16(1)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(19)(b)(iv)	substituted
F43	Words in reg. 17(1) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(i)	substituted
F44	Word in reg. 17(1)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(ii)	substituted
F45	Words in reg. 17(1)(c) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(iii)	substituted
F46	Word in reg. 17(1)(d) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(iv)	omitted
F47	Word in reg. 17(1)(d) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(iv)	substituted
F48	Reg. 17(1)(e) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(a)(v)	substituted
F49	Reg. 17(2) omitted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(20)(b)	omitted
F50	Reg. 18(1)(b) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(21)(a)	substituted
F51	Reg. 18(2)(ba) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(21)(b)(i)	inserted
F52	Words in reg. 18(2)(c) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(21)(b)(ii)	inserted
F53	Reg. 18(2)(ca)(cb) inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(21)(b)(iii)	inserted
F54	Reg. 18(2)(f) substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(21)(b)(iv)	substituted
F55	Word in reg. 19 substituted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(22)	substituted
F56	Regs. 20, 21 inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(23)	inserted
F56	Regs. 20, 21 inserted (18.11.2024 for the tax year 2024-25 and subsequent tax years) by The Pensions (Abolition of Lifetime Allowance Charge etc) (No. 2) Regulations 2024 (S.I. 2024/1012), regs. 1(2)(3), 27(23)	inserted
I1	Reg. 1 in force at 1.5.2010, see reg. 1(1)
I2	Reg. 2 in force at 1.5.2010, see reg. 1(1)
I3	Reg. 3 in force at 1.5.2010, see reg. 1(1)
I4	Reg. 5 in force at 1.5.2010, see reg. 1(1)
I5	Reg. 7 in force at 1.5.2010, see reg. 1(1)
I6	Reg. 10 in force at 1.5.2010, see reg. 1(1)
I7	Reg. 11 in force at 1.5.2010, see reg. 1(1)
I8	Reg. 13 in force at 1.5.2010, see reg. 1(1)
I9	Reg. 15 in force at 1.5.2010, see reg. 1(1)
I10	Reg. 16 in force at 1.5.2010, see reg. 1(1)
I11	Reg. 17 in force at 1.5.2010, see reg. 1(1)
I12	Reg. 18 in force at 1.5.2010, see reg. 1(1)
I13	Reg. 19 in force at 1.5.2010, see reg. 1(1)

Defined Term	Section/Article	ID
assistance	reg. 1. of PART 1	def_b8422485df
Enhanced ... allowance regulations	reg. 5. of PART 3	def_34dff1990c
interim assistance	reg. 1. of PART 1	def_d822787ba8
non-lump sum assistance	reg. 1. of PART 1	def_9549bff29c
non-taxable amount	reg. 12. of PART 3	def_6f9022c4f0
permitted maximum	reg. 1. of PART 1	def_a74ab9ac29
qualifying member	reg. 1. of PART 1	def_af430f923f
qualifying pension scheme	reg. 1. of PART 1	def_7e5490b010
relevant benefit crystallisation event	reg. 1. of PART 1	def_576f06de65
relevant person	reg. 13A. of PART 3	def_2bb9c5fdac
relevant reference number	reg. 1. of PART 1	def_6a78a3b7d7
the FA 2004	reg. 1. of PART 1	def_e57ceede58
the FAS	reg. 1. of PART 1	def_1de55a252f
the FAS Regulations	reg. 1. of PART 1	def_c789d61566
the FAS scheme manager	reg. 1. of PART 1	def_271a19b3c0

2010 No. 1187

The Financial Assistance Scheme (Tax) Regulations 2010

PART 1 Preliminary

Citation, commencement and interpretationI1

PART 2 Tax reliefs, etc

Transfer of registered pension scheme assets, etc, to the Secretary of StateI2

Payments to the Secretary of StateI3

[F4Lump sum payments by the Financial Assistance Scheme

“637GA. Financial Assistance Scheme: regulation 17D lump sums

“637GB. Financial Assistance Scheme: regulation 18A lump sums

PART 3 [F5Lump sum allowance and lump sum and death benefit allowanceF5]

F6Application of relevant ... allowance provisionsI4

Amount of charge

[F19Entitlement to assistance from the FASF19] I5

Persons liable to charge

Availability of individual’s lifetime allowance

Transitional provisions: Part 2 of Schedule 36 to the FA 2004I6

Information and penaltiesI7

[F27Relevant benefit crystallisation events: amount of qualifying member’s allowances expended

Information provided by qualifying members to the FAS scheme manager about enhanced [F28allowancesF28] I8

[F31Information provided by or in relation to qualifying members to the FAS scheme manager in relation to transitional tax-free amount certificates